At this point in time I have put together a solid business plan, got money lined up, and I've found a great location. However, a lingering doubt remains whether or not, with all the financial uncertainty gripping the world, if this is the best time to invest heavily in a business.

Warren Buffett, in a recent article in the New York Times, said, "When people are greedy, it's the time to fear and when there is fear its the time to be greedy." He is referring to the stock market, of course, but I think lessons can be learnt from this quote. For someone starting their first small business, it means that things must be done with even more precision and with even more thought than usual. I believe strongly in my concept and that with a concerted marketing campaign I will attract customers, but the financial news is really quite dire and people are starting to spend less on a whole range of products. Am I so blinded by my desire to succeed, that I’m not seeing something critical?

I don’t really know the answer to this (I guess that’s why I’m writing this). The risk of starting a business is that you’ll never know exactly how things are going to turn out. This is also where the reward comes; by having the ability to visualize the future the present takes shape. This is also where Buffett’s words are pertinent, if you can separate substance from hype and take a risk and give it time to grow, then you’ll be rewarded.

I take these words as inspiration and I feel good moving forward, but I still have a nagging in my side. Does anyone else have any thoughts about the supposed financial doom and the process of opening a café?

http://www.nytimes.com/2008/10/17/opinion/17buffett.html?partner=pe...